Evraz warns of tough 2012 as profit falls back March 28, 2012 EVRAZ, Russia’s largest steelmaker, has said that the outlook for the global steel industry will remain tough this year after its 2011 net profit missed market expectations by 31 per cent. The FTSE 100-listed company, part-owned by tycoon Roman Abramovich, posted 2011 net profit of $453m (£285.3m) – below the $661m forecast by analysts and [...]
FTSE poised for monthly loss as hit from insurers leads to technical fall March 28, 2012 BRITAIN’S blue-chip index ended lower yesterday as disappointing US economic data pushed investors to cash in their quarterly gains, setting the index on course for its first monthly loss of the year. The FTSE 100 closed 60.56 points, or one per cent, lower at 5,808.99 points, extending losses in the afternoon after breaking below its [...]
FTSE dented by miners March 28, 2012 The FTSE 100 was pegged back by miners in early trading as the index lost some of the momentum built up over recent weeks. Nagging doubts over the rate of growth that can be sustained in China continued to cast a shadow over the sector and the price of copper fell. Steelmaker Evraz warned over [...]
Economic news drives quiet week for trading March 25, 2012 TODAY Investors in highly volatile oil and exploration stocks could face surprises this week, as some small-cap firms report, but the UK market should start off quietly. Volume may pick up in the afternoon with pending home sales from the US. Given mildly disappointing existing home sales figures last week, pending home sales could also [...]
FTSE gains fuelled by miners February 28, 2012 The FTSE 100 tracked overnight gains in Asia fuelled by lower oil prices and rising metal prices. Brent crude futures slipped to below $124 a barrel after a surge which had been triggered by fears over supply from the Middle East. A shortage would threaten to derail global growth and investors have been eyeing oil [...]
FTSE buoyed by energy stocks February 24, 2012 Upbeat economic data across the Atlantic and strong energy stocks helped to keep the FTSE 100 on track today despite relative weakness in Europe. US blue chips added 0.4 per cent overnight after weekly jobless data showed the US labour market remained on the mend, with the Dow approaching levels not seen since before the [...]
Banks hit by latest ratings blow February 16, 2012 The FTSE 100 fell this morning with the banking sector pegging back the index as Moody’s threatened to downgrade 17 banks and securities firms and the Greece bailout hit yet more hurdles. The ratings agency said it might cut the long-term credit rating of UBS, Credit Suisse and Morgan Stanley by as much as three [...]
Banks pull FTSE back as Greece crisis festers January 30, 2012 The FTSE 100 tracked losses across Europe in early trading as the negotiations in Athens over Greece’s disastrous finances showed few signs of success. Greece and its private creditors have so far failed to come up with an agreement on debt swap talks, needed to avoid a default. Meanwhile a European summit focused on growth [...]
FTSE flat as UK recession looms January 25, 2012 The FTSE 100 was flat after optimism from strong results from Apple in the US fell away with GDP data showing that Britain is on the brink of recession. Later today the Fed will announce its interest rate decision after the European markets close, with no change expected to the US central bank’s 0.25 per [...]
FTSE given lift by airline deal December 22, 2011 The FTSE 100 nudged up this morning led by BA owner International Airlines group (IAG) which announced a deal for Lufthansa’s bmi. Overall European shares started higher with the FTSEurofirst 300 index gaining around one per cent in early trade while global stocks, as measured by MSCI world equity index, were edged up 0.2 per [...]